The market for penny stocks across stock exchanges is quite vibrant, and investors are almost always on the lookout to discover the major movers. In recent times, there have been a few penny stocks that have come into focus among investors. This feature would provide you with a closer look at four of those.
Pressure BioSciences Inc. (OTC:PBIO) is involved in the manufacturing of broadly applicable high-pressure-based instruments. On Wednesday, the company announced that orders for its ultra-shear-processed NANO CDB topical spray offering were accelerating strongly. The company expanded into Phase 2 of its commercial rollout recently, and within three weeks of that, it received seven initial market seeding orders.
The order had been placed by two existing distributors and five new ones. Additionally, Pressure BioSciences noted in its news release that the orders were also an indication that it could start introducing new ultra-shear-processed CBD products. The company went on to add that it expected substantial orders to be placed for the product through the rest of the year.
Ultra Shear NANO-CBD is a product that claims to provide a powerful differential in terms of performance in a sector that is often beset with claims that are often hyperbolic. The technology helps in the development of ultra-low nanodroplets of uniform sizes of hemp-based CBD in water.
Butler National Corp. (OTC:BUKS) is a leading player in the emerging market for specialized aircraft modification and MRO (maintenance, repair, and overhaul). It is also a known gaming management services provider. On August 9, the company announced that it had expanded its subsidiary company, Avcon Industries Inc., to the New Century Airport, which is situated on the outskirts of Kansas City. In the news release, the company noted that the business trajectory of Avcon continued to be on the upswing.
The expansion from its headquarters in Newton, Kansas, to Kansas City would help in meeting two major needs: available hangar space and the acquisition of services from a skilled workforce. Avcon is looking for new talent to work at its headquarters and is also recruiting aircraft modification personnel with the right qualifications concurrently. Kansas City is known for being the hub of highly skilled sheet metal workers.
SideChannel Inc. (OTC:SDCH)—a cybersecurity services and technology provider for emerging and middle market companies—announced its financial results yesterday. It was for the three- and nine-month periods, which ended on June 30, 2023. In the third quarter, it clocked revenues of $1.8 million, which was 37.1% higher year over year. The gross margin came in at 49.9%, which was an improvement on the 44% in the prior-year period.
The company suffered net losses of $0.7 million, which worked out to losses of less than $0.01 a share. It should be noted that the net loss figure also included a non-recurring, non-cash business combination-associated expense of $214,000. The company used cash to the tune of $432,000 in the quarter and ended the period with $1.4 million in cash.
Ethical Web AI (OTC:BBLR): Ethical Web AI, which had been known as Bubblr Inc. in the past, is a pioneer in the ethical technology space. It is focused on bringing about significant changes in the digital world. Yesterday, the company announced the launch of a new website to showcase its path-breaking AI Seek chat application. The company noted that since the product had been launched on July 30, it had managed to attract an enthusiastic user base.
The company had also received considerable feedback about the product, and hence, in response to the feedback, it decided to create an even more intuitive app for the benefit of the non-technical user base.
